Navin Fluorine International Ltd., a fluorochemicals manufacturer based in India has reported its financial results for the period ended March 31, 2020.
Q4 Results
The company’s net profit dropped by 73% to Rs 73.22 crores ($10 million) for the period ended March 31, 2021 as against Rs 270.08 crores ($36.8 million) for the period ended March 31, 2020.
Net sales increased by 27.5% to Rs 359.72 crores ($49 million) during the period ended March 31, 2021 as compared to Rs 282.25 crores ($38.4 million) during the period ended March 31, 2020.
High raw materials costs and weak margins resulted in a loss during the quarter.
Full-Year Results
The company’s net profit decreased by 38.5% to Rs 247.05 crores ($33.6 million) for the full-year period ended March 31, 2021 as against Rs 401.36 crores ($54.7 million) for the full-year period ended March 31, 2020.
The company has reported net sales of Rs 1258.43 crores ($171.4 million) during the full-year period ended March 31, 2021, an increase of 15% compared to Rs 1094.88 crores ($149.1 million) during the full-year period ended March 31, 2020.
Navin Fluorine’s board has approved the re-appointment of Vishad P. Mafatlal, as executive chairman, designated as chairman of Navin Fluorine International, for a further term of five years from 20 August 2021.